Astrotech names Nihanth Badugu as Chief Operating Officer
Appointment Announcement: Astrotech has appointed Nihanth Badugu as the new COO, effective August 13.
Previous Experience: Badugu previously served as Director of Program Management at Astrotech and has extensive experience in chemical manufacturing and consulting.
Notable Roles: Before joining Astrotech, he was the NPI Program Manager at Thermo Fisher Scientific, where he led the launch of COVID-19 diagnostic products.
Educational Background: Mr. Badugu holds a Bachelor of Science degree from York University and is expected to significantly contribute to Astrotech's growth strategy.
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Astrotech Subsidiary Appoints Sales Director to Accelerate TRACER 1000 Global Deployment
- Executive Appointment: Astrotech's subsidiary 1st Detect has appointed David Spada as Director of Global Sales, leveraging his over ten years of specialized experience to enhance the company's commercial leadership in international security markets and accelerate the global deployment of the TRACER 1000.
- Technological Advantage: The TRACER 1000 utilizes mass spectrometry to deliver laboratory-grade trace detection, helping security teams reduce false alarms and strengthen screening checkpoints, addressing the urgent modernization needs of global security agencies.
- Market Outlook: Spada noted that the TRACER 1000 features disruptive technology, which is expected to usher in a new era of high-performance mass spectrometry-based trace detection, thereby increasing shareholder value and enhancing the company's competitive position in the market.
- Strategic Goals: Astrotech CEO Thomas B. Pickens III emphasized that the mature technology of the TRACER 1000 will set a new standard in security screening, reflecting the company's strong commitment to advancing security detection technologies.
Astrotech Supports DHS $1 Billion Aviation Security Upgrade Initiative
- Technological Support: Astrotech's TRACER 1000™ detection systems, approved by TSA and the European Civil Aviation Conference, are set to provide laboratory-grade trace detection for air cargo and security applications, which is expected to significantly enhance the efficiency and accuracy of U.S. aviation security.
- Addressing Challenges: The DHS modernization initiative aims to tackle the surge in passenger volumes and complex threats at airports, with TRACER 1000 reducing false alarm rates to help security teams more effectively identify genuine threats, thereby minimizing delays and passenger frustration.
- Rapid Scaling Capability: Astrotech asserts that its Austin, Texas facility is equipped to immediately scale production to meet the demands of the DHS modernization program, ensuring swift deployment as airports and federal agencies implement upgrades.
- National Security Priority: As the DHS initiative moves forward, Astrotech and 1st Detect plan to collaborate with federal agencies and airport authorities to demonstrate how their technology can enhance security posture while improving operational efficiency, further solidifying the foundation of U.S. aviation security.
Astrotech Corporation Names Scott Bartley as Acting Chief Financial Officer
New CFO Appointment: Astrotech Corporation has appointed Scott Bartley as Interim Chief Financial Officer, effective October 20, 2025, bringing over 20 years of financial expertise to the role.
Background of Scott Bartley: Bartley has extensive experience as a financial consultant and has held CFO positions in various companies, including Westlake Securities and Deloitte & Touche, and is a Certified Public Accountant.
Astrotech's Business Focus: Astrotech operates through subsidiaries that specialize in mass spectrometry and related technologies, serving markets such as security, agriculture, industrial manufacturing, and health diagnostics.
Forward-Looking Statements: The press release includes forward-looking statements that are subject to various risks and uncertainties, emphasizing the potential impact of economic conditions and regulatory changes on the company's future performance.
Astrotech Corp. Sees Increase in Annual Losses
Financial Loss: Astrotech Corp. reported a full-year loss of -$13.85 million, or -$8.32 per share, compared to a loss of -$11.67 million, or -$7.12 per share, the previous year.
Revenue Decline: The company's revenue decreased by 36.7% to $1.05 million from $1.66 million in the prior year.
Astrotech Announces Financial Results for Fiscal Year 2025
Financial Performance: Astrotech Corporation reported a revenue decrease to $1.0 million for the fiscal year ending June 30, 2025, while gross margin slightly increased to 45.3%. The company also recorded a net loss of $13.85 million, compared to a loss of $11.67 million in the previous year.
New Subsidiary and Product Launch: Astrotech formed a new subsidiary, EN-SCAN, Inc., to manufacture environmental testing instruments, and launched the enhanced TRACER 1000 Narcotics Trace Detector, expanding its market presence in security and narcotics screening.
International Expansion: The TRACER 1000 has been deployed in 34 locations across 16 countries, with its first sale in Vietnam marking a significant step in expanding Astrotech's footprint in Southeast Asia.
Future Outlook: The company aims to leverage its mass spectrometry and gas chromatography technologies to meet industry demands, with a focus on organic growth and research and development supported by $18.2 million in cash and liquid investments.
Astrotech Corporation Names Nihanth Badugu as COO
Appointment of COO: Astrotech Corporation has appointed Nihanth Badugu as Chief Operating Officer, effective August 13, 2025, following his successful tenure as Director of Program Management since 2023.
Background and Experience: Mr. Badugu, age 37, has a strong background in program management and operational leadership, previously working at Thermo Fisher Scientific and PVA Consulting Group, contributing to significant projects including COVID-19 diagnostic products.
Company Overview: Astrotech Corporation specializes in mass spectrometry and operates several subsidiaries focused on various applications, including security screening, agriculture, industrial manufacturing, and health diagnostics.
Forward-Looking Statements: The press release includes forward-looking statements that are subject to risks and uncertainties, emphasizing the importance of evaluating these statements in light of potential market and regulatory challenges.
Astrotech Subsidiary Appoints Sales Director to Accelerate TRACER 1000 Global Deployment
- Executive Appointment: Astrotech's subsidiary 1st Detect has appointed David Spada as Director of Global Sales, leveraging his over ten years of specialized experience to enhance the company's commercial leadership in international security markets and accelerate the global deployment of the TRACER 1000.
- Technological Advantage: The TRACER 1000 utilizes mass spectrometry to deliver laboratory-grade trace detection, helping security teams reduce false alarms and strengthen screening checkpoints, addressing the urgent modernization needs of global security agencies.
- Market Outlook: Spada noted that the TRACER 1000 features disruptive technology, which is expected to usher in a new era of high-performance mass spectrometry-based trace detection, thereby increasing shareholder value and enhancing the company's competitive position in the market.
- Strategic Goals: Astrotech CEO Thomas B. Pickens III emphasized that the mature technology of the TRACER 1000 will set a new standard in security screening, reflecting the company's strong commitment to advancing security detection technologies.
Astrotech Supports DHS $1 Billion Aviation Security Upgrade Initiative
- Technological Support: Astrotech's TRACER 1000™ detection systems, approved by TSA and the European Civil Aviation Conference, are set to provide laboratory-grade trace detection for air cargo and security applications, which is expected to significantly enhance the efficiency and accuracy of U.S. aviation security.
- Addressing Challenges: The DHS modernization initiative aims to tackle the surge in passenger volumes and complex threats at airports, with TRACER 1000 reducing false alarm rates to help security teams more effectively identify genuine threats, thereby minimizing delays and passenger frustration.
- Rapid Scaling Capability: Astrotech asserts that its Austin, Texas facility is equipped to immediately scale production to meet the demands of the DHS modernization program, ensuring swift deployment as airports and federal agencies implement upgrades.
- National Security Priority: As the DHS initiative moves forward, Astrotech and 1st Detect plan to collaborate with federal agencies and airport authorities to demonstrate how their technology can enhance security posture while improving operational efficiency, further solidifying the foundation of U.S. aviation security.
Astrotech Corporation Names Scott Bartley as Acting Chief Financial Officer
New CFO Appointment: Astrotech Corporation has appointed Scott Bartley as Interim Chief Financial Officer, effective October 20, 2025, bringing over 20 years of financial expertise to the role.
Background of Scott Bartley: Bartley has extensive experience as a financial consultant and has held CFO positions in various companies, including Westlake Securities and Deloitte & Touche, and is a Certified Public Accountant.
Astrotech's Business Focus: Astrotech operates through subsidiaries that specialize in mass spectrometry and related technologies, serving markets such as security, agriculture, industrial manufacturing, and health diagnostics.
Forward-Looking Statements: The press release includes forward-looking statements that are subject to various risks and uncertainties, emphasizing the potential impact of economic conditions and regulatory changes on the company's future performance.
Astrotech Corp. Sees Increase in Annual Losses
Financial Loss: Astrotech Corp. reported a full-year loss of -$13.85 million, or -$8.32 per share, compared to a loss of -$11.67 million, or -$7.12 per share, the previous year.
Revenue Decline: The company's revenue decreased by 36.7% to $1.05 million from $1.66 million in the prior year.
Astrotech Announces Financial Results for Fiscal Year 2025
Financial Performance: Astrotech Corporation reported a revenue decrease to $1.0 million for the fiscal year ending June 30, 2025, while gross margin slightly increased to 45.3%. The company also recorded a net loss of $13.85 million, compared to a loss of $11.67 million in the previous year.
New Subsidiary and Product Launch: Astrotech formed a new subsidiary, EN-SCAN, Inc., to manufacture environmental testing instruments, and launched the enhanced TRACER 1000 Narcotics Trace Detector, expanding its market presence in security and narcotics screening.
International Expansion: The TRACER 1000 has been deployed in 34 locations across 16 countries, with its first sale in Vietnam marking a significant step in expanding Astrotech's footprint in Southeast Asia.
Future Outlook: The company aims to leverage its mass spectrometry and gas chromatography technologies to meet industry demands, with a focus on organic growth and research and development supported by $18.2 million in cash and liquid investments.
Astrotech Corporation Names Nihanth Badugu as COO
Appointment of COO: Astrotech Corporation has appointed Nihanth Badugu as Chief Operating Officer, effective August 13, 2025, following his successful tenure as Director of Program Management since 2023.
Background and Experience: Mr. Badugu, age 37, has a strong background in program management and operational leadership, previously working at Thermo Fisher Scientific and PVA Consulting Group, contributing to significant projects including COVID-19 diagnostic products.
Company Overview: Astrotech Corporation specializes in mass spectrometry and operates several subsidiaries focused on various applications, including security screening, agriculture, industrial manufacturing, and health diagnostics.
Forward-Looking Statements: The press release includes forward-looking statements that are subject to risks and uncertainties, emphasizing the importance of evaluating these statements in light of potential market and regulatory challenges.
